- Found a new company

- Own 100% of the shares

- Bring a few people on, shares get diluted to 20%

- A few years on, the company is very successful and has a valuation of $2 billion, growing from $1.3b the year prior, despite being private and only having ~20 employees

So in that year the founder "made" $140 million, what happens there? Should the company be forced to go public? Otherwise, where does the other $139 million go, does the government "tax" the shares and end up with majority control of any company that grows too fast?

the tax comes only when the shares are liquidated...a valuation is a number in the sky, a number some people agree on but a number in the sky nonetheless

Yet another wealth tax argument they fails to understand how the top 0.1% actually have the new worth they do.

People who don’t understand how money works are in no position to dictate how it should be distributed.

Agreed - The ultra rich's wealth does not come from their wages.

The article makes it clear they mean income and not wages, but of course there are a huge number of ways to live rich but never have income come directly to you.